NCLT Grants SBI Extension for Guarantor Asset Affidavit

Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 16/06/2026

Case Overview

This is a proceeding under Section 121(1) of the Insolvency and Bankruptcy Code, 2016. The applicant is the State Bank of India (Stress Asset Management Branch), and the respondent is Tikhabhai Ranabhai Khamal, who is a personal guarantor. The matter before the tribunal was a request from the applicant's counsel for more time to file a required affidavit.

Final Outcome

The bench, comprising Member (Judicial) Mr. Shammi Khan and Member (Technical) Mr. Sanjeev Sharma, allowed the applicant's request. State Bank of India is granted a period of one week to file an affidavit in support of the declaration of assets of the personal guarantor, Tikhabhai Ranabhai Khamal. This affidavit must detail assets owned by the guarantor as on the date of the order or in the past. The case has been re-listed for further consideration on June 29, 2026.

Topics: NCLT Proceeding, Personal Guarantor, Asset Declaration